About the course
Unlock your accounting potential and continue on your journey towards achieving the CIMA Professional Chartered Management Accounting certificate, with this F1 module in Financial Operations. As one of the nine modules that make up this professionally accredited certification, you will be able to continue your studies and ensure that you can add the higher level qualification to your glowing CV in no time at all. Businesses in industries all over the world require professional management accountants to ensure their success in the market and there’s nothing stopping you from joining this elite number of skilled accountants once you have your CIMA qualification in the bag.
Manageable and Convenient Study
The financial operations of an organisation are an important concept to grasp and fully understand, to ensure that the organisation stays on the right financial track to success. This course will ensure that students cover all of the essential learning and is split into three easy-to-navigate units so that you don’t feel the pressure of receiving all of the study materials at one time. Online study means that you don’t have to worry about attending lectures or finding your way to test centres; once you sign up for the course, you have 24 months to complete it and all your study can be done at home.
Progression Through Three Units
Each unit in the course contributes a certain percentage to the overall result, with subject areas covering the principles of business taxation (25%), regulation and ethics of financial reporting (15%) and financial accounting and reporting (60%). Make use of all of the study materials and learning resources that are available to you and you will be able to revise thoroughly and pass the assessments with ease. Whether you plan to set up a self-employed venture or you’re hoping to obtain a competitive job in the industry, this course and the higher level CIMA qualification that it is part of will enable you to achieve your career goals.
Key Learning Points
As part of the overall CIMA Professional Chartered Management Accounting qualification, this Financial Operations module focuses on how to prepare full financial statements, as well as the regulation and ethics associated with them, to ensure that the financial statements meet the needs of the organisation. Applicants must hold the CIMA Certificate in Business Accounting or an approved qualification.
- Understand the different types of tax that can be applied to an incorporated business, including direct tax on a company’s trading profits and indirect taxes collected by the company and learn about the administration of them.
- Identify situations in which foreign tax obligations (reporting and liability) could arise and methods for relieving foreign tax and gain further insight into employee taxation.
- Understand the need for record keeping and the importance of adhering to tax return and payment deadlines.
- Learn how to prepare corporate income tax calculations and feel confident in the execution of them.
- Understand why regulating accounting and financial reporting are needed; learn the role of the external auditor, the core elements of an audit report and why accurate and in-depth financial reporting equates to best practice.
- Understand the CIMA Code of Ethics for Professional Accountants with relation to information reporting, assurance and taxation activities of an accountant, so that you can apply the knowledge in your future job position.
- Learn how to prepare full financial statements for a single company and consolidated statements for a group.
- Learn about international standards and accounting rules and how to apply them to a range of matters that you will be faced with over the course of your career.
Advantages Of This Course
- Understand how to prepare full financial and consolidated financial statements.
- Stand out in a competitive industry with a growing accountancy skillset.
- Add the F1 Financial Operations course and practical skills to your CV immediately.
- Course material delivered in bitesize chunks, to make study more manageable and to ensure better retention of information.
- Work through the family of modules to achieve the higher level CIMA Professional Chartered Management Accounting certificate.
- Interactive simulations, to enable you to learn through doing and complement the training manuals and online study guides that will help you along the way.
- Test yourself with skills assessments, so that you can monitor your progress and see where improvements, if any, can be made.
- Full support via phone and email, if you run into any troubleshooting or technical difficulties.
- Printable exercises and reference guides so that you can learn away from the PC.
- Free upgrades for 24 months, to ensure the course is as up-to-date as it possible can be.
- Available for a full 24 months following registration, so that you can complete the course in your own time, at your own pace.
- No need to be pressured by strict schedules and timetables – course material is available 24/7, as and when you need it.
Boost your Financial Operations knowledge, expertise and confidence and sign up for this fantastic CIMA course today – if you want to be a chartered management accountant, this qualification is a crucial step to success.
Units of Study
- Introduction to Regulation and Audit
- The IASB Framework
- Setting Standards
- Ethics and Accounting
- Preparing Accounts for Publication
- Property, Plant and Equipment
- Intangible Assets
- Tax in Company Accounts
- Reporting Performance
- Long-Term Contracts
- Related Parties
- Events After the Balance Sheet Date and Provisions
- Practice Module 1
- Share Capital Transactions
- Cash Flow Statements
- Practice Module 2
- Ethics and Accounting
- The Consolidated Statement of Financial Position
- The Consolidated Statement of Comprehensive Income
- Accounting for Associates
- Tax?Principles, Terms and Rules
- Features of Tax
- Administration of Tax
- Foreign Tax